The article outlines the challenges posed by globalization of the economy at the present stage of economic development. The pros and cons of globalization are analyzed. The features of the transformation of socio-cultural space under conditions of globalization processes are shown. The basic contradictions generating socio-cultural risks caused by globalization of the economy are revealed. The author demonstrates some characteristic socio-cultural risks of globalization in the context of modern Russia. The necessity for preventive measures to minimize the consequences of the implementation of socio-cultural risks is discussed